He said the snacks entity is mostly concentrated in Gujarat with an annual revenue of Rs 200 crore.

"All E-vita products are priced at Rs 5 and this will help us in the foray into the mass market. Our 'Too Yum' will be placed in the mid-market and we will also look into premium with like organics. The acquisition is also not ruled out," Goenka said.

He said they will try to take the brand nationally.

Meanwhile, Goenka said the company was planning to set up their own manufacturing to retain quality and they were evaluating few states like Rajasthan, Uttar Pradesh, Uttarakhand, Andhra Pradesh and West Bengal.

"We will finalise location in the next two weeks," he added.

Initially, investment in the new plant could be around Rs 70 crore initially and that could go up to Rs 150 crore, officials indicated.